For students in college, one of the big factors that are used to help calculate auto insurance rates is where your residence is in Colorado Springs. Cities with larger populations will most likely have higher rates, whereas areas that tend to be more rural receive better rates.
The information below lists the highest-priced places in Colorado for college students in which to purchase auto insurance. Colorado Springs shows up at #13 costing $1,277 for the average insurance policy, which is approximately $106 each month.
| Rank | City | Premium Per Year |
|---|---|---|
| 1 | Pueblo | $1,455 |
| 2 | Denver | $1,425 |
| 3 | Aurora | $1,403 |
| 4 | Lakewood | $1,365 |
| 5 | Northglenn | $1,342 |
| 6 | Commerce City | $1,314 |
| 7 | Ken Caryl | $1,313 |
| 8 | Thornton | $1,307 |
| 9 | Littleton | $1,306 |
| 10 | Security-Widefield | $1,291 |
| 11 | Highlands Ranch | $1,279 |
| 12 | Centennial | $1,278 |
| 13 | Colorado Springs | $1,277 |
| 14 | Westminster | $1,272 |
| 15 | Parker | $1,270 |
| 16 | Arvada | $1,269 |
| 17 | Castle Rock | $1,261 |
| 18 | Brighton | $1,247 |
| 19 | Broomfield | $1,203 |
| 20 | Boulder | $1,195 |
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Information shown are comparative as the specific area where the vehicle is garaged can decrease or increase premiums significantly.
The type of vehicle requiring insurance is one of the primary factors that determines if you can find the cheapest car insurance for college students. Vehicles with high performance features, a lack of modern safety features, or a high likelihood of having liability claims will cost much more to insure than more economical and safe models. The list below showcases auto insurance prices for the most economical vehicles to insure.
| Vehicle Make and Model | Estimated Cost for Full Coverage |
|---|---|
| Honda CR-V EX 2WD | $2,416 |
| Ford Escape Limited 4WD | $2,606 |
| Toyota Prius | $2,644 |
| Chevrolet Impala LS | $2,827 |
| GMC Sierra SLE Crew Cab 2WD | $2,863 |
| Toyota RAV4 Sport 4WD | $2,870 |
| Ford Fusion S 4-Dr Sedan | $2,863 |
| Chevrolet Equinox LT 2WD | $2,868 |
| Jeep Grand Cherokee Laredo 2WD | $2,863 |
| Dodge Grand Caravan SXT | $2,901 |
| Ford Explorer Eddie Bauer 4WD | $2,906 |
| Ford Focus SES 4-Dr Sedan | $2,982 |
| Toyota Corolla S | $3,018 |
| Toyota Tacoma X-Runner 2WD | $3,026 |
| Honda Odyssey EX-L W/Navigation | $3,018 |
| Nissan Altima 2.5 S 4-Dr Sedan | $3,027 |
| Hyundai Elantra GLS 4-Dr Sedan | $3,018 |
| Ford Edge Sport AWD | $3,023 |
| Chevrolet Silverado 2500HD LT Crew Cab 4WD | $3,056 |
| Chevrolet Malibu LTZ | $3,061 |
| Volkswagen Jetta 2.0T 4-Dr Sedan | $3,056 |
| Nissan Rogue S AWD | $3,084 |
| Ford F-150 Lariat King Ranch 4WD | $3,091 |
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Above prices assume single female driver age 20, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Premium amounts do not factor in vehicle location which can influence coverage rates greatly.
Looking at the rates, you can assume that makes and models like the Honda CR-V, Ford Escape, Toyota Prius, and Chevrolet Impala should be the less-costly vehicles to insure for students in college. The cost of a car insurance policy will tend to be higher because there is more liability exposure for college students, but in general those particular vehicles will have the cheapest car insurance rates compared to all other vehicles.
Finding reliable, reasonably-priced auto insurance is easier said than done, and deciding which company has the cheapest auto insurance rates for college students requires even more perseverance. Each auto insurance company uses slightly different criteria for setting rates, so let’s take a look at the lowest cost auto insurance companies in Colorado Springs.
It’s important to know that Colorado auto insurance rates are determined by lots of factors that can increase the cost of your policy. This price variation is why consumers need to take the time to compare many different companies when trying to find the best auto insurance quotes for college students. Car insurance prices are made up of many different factors and can decrease or increase without notice, so the best option when you last compared rates may now be one of the more expensive options.
Find the Cheapest Car Insurance for College Students
| Rank | Company | Cost Per Year |
|---|---|---|
| 1 | The Hartford | $859 |
| 2 | Grange | $958 |
| 3 | USAA | $999 |
| 4 | Nationwide | $1,121 |
| 5 | GEICO | $1,152 |
| 6 | Auto-Owners | $1,156 |
| 7 | Travelers | $1,171 |
| 8 | State Farm | $1,209 |
| 9 | American Family | $1,314 |
| 10 | Progressive | $1,336 |
| 11 | Amica | $1,381 |
| 12 | Allied | $1,453 |
| 13 | California Casualty | $1,488 |
| 14 | Farmers | $1,581 |
| 15 | Colorado Farm Bureau | $1,592 |
| 16 | MetLife | $1,885 |
| 17 | Allstate | $2,076 |
| 18 | Encompass | $2,231 |
| 19 | Safeco | $2,472 |
| 20 | Titan | $2,738 |
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The Hartford quotes some of the most affordable car insurance rates in Colorado Springs at around $859 annually. Grange, USAA, Nationwide, and GEICO also rank well as some of the lowest-priced Colorado Springs, CO auto insurance companies.
As shown in the rates above, if you are insured with Nationwide and switched to Grange, you could earn a yearly price reduction of in the neighborhood of $163. Insureds with GEICO could save as much as $194 a year, and Auto-Owners insureds might cut rates by $198 a year.
Be aware that those premiums are averaged across all ages of drivers and types of vehicles and do not take into consideration an exact zip code location for college students. So the auto insurance company that has the cheapest rates for you may not even be in the top 21 companies in the list above. That point stresses why you need to get car insurance quotes using your own driver information and specific vehicle type.
Insurance rate increases from tickets or accidents
In a perfect world, the ideal way to receive good auto insurance rates for students in college is to be a cautious driver and avoid getting tickets or having accidents. The diagram below demonstrates how citations and at-fault collisions impact insurance costs for different age groups. The rates are based on a married male driver, comp and collision included, $500 deductibles, and no discounts are factored in.
In the previous chart, the average cost of a car insurance policy per year with no accidents and a clean driving record is $1,411. Get two speeding tickets and the average cost jumps to $1,942, an increase of $531 each year. Now get one accident along with the two speeding tickets and the annual cost of auto insurance for college students goes up to an average of $2,475. That’s an increase of $1,064, or $89 per month, just for not being more responsible behind the wheel!
How to get discounts on Colorado Springs insurance
Insurers that provide policies for college students may have premium discounts that could reduce prices by as much as 35% if you can meet the requirements. A few popular companies and some of the discounts are included below.
- Mercury Insurance includes discounts for multi-car, professional/association, ease of repair, accident-free, location of vehicle, and anti-theft.
- Farmers Insurance offers discounts for distant student, youthful driver, mature driver, good student, switch companies, homeowner, and multi-car.
- Farm Bureau has discounts for 55 and retired, driver training, safe driver, youthful driver, multi-policy, and multi-vehicle.
- State Farm policyholders can earn discounts including passive restraint, accident-free, good student, good driver, student away at school, and defensive driving training.
- Allstate has savings for safe driver, eSmart discount, utility vehicle, teenSMART discount, and passive restraint.
- GEICO offers discounts including five-year accident-free, anti-theft, emergency military deployment, federal employee, driver training, defensive driver, and anti-lock brakes.
The information below visualizes the comparison of insurance premiums with and without some available policy discounts. The premiums assume a male driver, no claims, a clean driving record, Colorado state minimum liability limits, comp and collision included, and $250 deductibles.
The first bar for each age group shows the price with no discounts. The lower bar shows the rates with continuous coverage, good student, passive restraint, paid-in-full, paperless filing, and vehicle safety discounts applied. When these discounts are applied, theaverage amount saved on auto insurance for college students is 19% or $465.
The importance of comparing Colorado Springs car insurance rates
Colorado Springs, CO auto insurance rates are influenced by many factors that control the policy price. Simply getting older, filing a claim, or getting a DUI can cause premium changes that can now make some companies much cheaper than others.
In addition to those changes, insurers change premium rates without warning to adjust for heavy claims or excess profits. Significantly higher losses may result in high rates, while a better loss history can produce lower-priced Colorado Springs car insurance rates.
The bar chart below shows a variety of companies that have the cheapest car insurance in Colorado Springs, CO for a 45-year-old female driver with a clean driving record, no accidents, and good financial standing. Based on her current risk factors, The Hartford quotes the lowest car insurance rates in Colorado Springs at $1,021 per year. This is $557 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and GEICO are the rest of the top five cheapest Colorado Springs, CO auto insurance companies.
Now we will pretend the driver in the first example a chargeable accident, a lower credit rating, and a traffic ticket or two. Since each auto insurer has a proprietary formula for setting rates, analyzing rates most likely will result in a completely different list of companies as shown below.
Travelers now has the lowest price on auto insurance in Colorado Springs, CO with State Farm, Grange, American Family, and Amica completing the list. This example proves why drivers need to perform a complete rate comparison when trying to find the most affordable auto insurance quotes for college students. Prices are impacted by many risk factors and change substantially, so the most affordable company a year ago may now be wasting a lot of money.
Ideas for finding more affordable car insurance for college students
Below you’ll find some of the better thrifty suggestions that can help you find lower-cost coverage.
- Good credit can mean cheaper rates
- Full coverage may not be needed on older vehicles
- Higher deductibles mean lower rates
- Buy a safer vehicle
- Avoid speeding and other traffic citations and pay less
- Remain accident-free and save
- Shop your coverage around for the best deal
The last item on the list is extraordinarily vital, as we stressed in the prior information. Prices in Colorado Springs can change in a short period of time, so don’t be unwilling to buy from a new company if a lower-cost policy is available. Many drivers have brand loyalty and that’s fine, but we do not recommend it if that devotion results in you overpaying major coinage every year. In less than five minutes you could shop around to find cheaper insurance for college students.